Hospice charities, blood bikes, search and rescue, and air ambulance charities will be eligible for VAT refunds

Business rates changes (England only):

The business rates multiplier has increased from 48.2p to 49.3p (47.1p to 48.0p for small business multiplier). This includes the 2% inflation cap

The Small Business Rate Relief scheme has doubled for a further year – providing 100% relief for businesses with a single property with a rateable value of less than £6,000, and tapered relief with a rateable value of £6,000 – £12,000

The business rates discount for shops, pubs, cafes and restaurants with a rateable value of £50k or below has increased from £1,000 to £1,500

The cultural test for high-end TV tax relief has been modernised and the minimum UK expenditure requirement for all TV tax reliefs has reduced from 25% to 10%

A new tax relief on the production of children’s television has been introduced

The amount of banks’ annual profit that can be offset by carried forward losses has been restricted to 50%

Two new bands for the Annual Tax on Enveloped Dwellings (ATED) have been introduced

Capital Gains Tax exemption for wasting assets will only apply if the corporate selling the asset has used it in their own business

An investment allowance for North Sea oil and gas, replacing the existing offshore field allowances and simplifying the existing regime, has been introduced

A reduced rate of fuel duty to methanol will apply – the rate is 9.32 pence per litre

Fuels used to generate good quality electricity by CHP (combined heat and power) plants for onsite purposes are exempt from the Carbon Price Floor

Climate Change Levy main rates have increased in line with RPI

The VAT registration threshold has increased from £81,000 to £82,000 and the deregistration threshold from £79,000 to £80,000

Scottish government’s Land and Buildings Transactions Tax (LBTT) will replace Stamp Duty Land Tax in Scotland

The associated companies rules have been replaced with simpler rules based on 51% group membership

The standard and lower rates of landfill tax have been increased in line with RPI

This entry was posted on
Thursday, April 9th, 2015 at
12:00 am by and is filed
under Uncategorized. You
can follow any responses to this entry
through the RSS 2.0
feed.